Regulator approves Gazprom-Armenia investment program for $364 mln until 2030

YEREVAN. Dec 27 (Interfax) - The Public Services Regulatory Commission (PSRC) of Armenia has approved the investment program of CJSC Gazprom Armenia for 2025-2029, the company's press service said, with the corresponding decision proposed at the commission's meeting on Thursday.

Investments should total around 144 billion drams, about $363.6 million at the current exchange rate, in 2025-2029 in line with Gazprom Armenia's presented program.

The investment program's principal areas are expanding the Abovyan underground gas storage station, restoring and reconstructing the gas transmission system, working to connect new subscribers to the gas supply system, as well as investing in other areas of the gas distribution system.

Gazprom is the sole supplier of natural gas to Armenia. CJSC Gazprom Armenia, a 100% subsidiary of the Russian concern, operates the gas transmission network.